Australian online sales growth eases

A SOFTER pace of growth for online sales and credit card spending suggests Australians kept their wallets and purses shut in February.

The National Australia Bank measure of online retail sales for the 12 months to February grew at its weakest annual pace since May 2012.

The 19 per cent annual pace for February was well down from the 27 per cent figure for January.

NAB chief economist Alan Oster said the slowdown in online growth, coupled with an analysis of spending by the bank's credit card customers, suggested the broader retail sector had a soft month in February.